Reaves Utility Income Fund Announces Regular Monthly Dividend, Payable on April 30, 2020, May 29, 2020 and June 30, 2020 Respectively
April 06, 2020 at 10:00 am EDT
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Reaves Utility Income Fund announced next three monthly dividends at a rate of $0.18 per common share per month, unchanged from the per share rate paid for the previous quarter. Payable on April 30, 2020, May 29, 2020 and June 30, 2020 respectively to the share holders record on April 20, 2020,May 19, 2020, June 19, 2020, with ex-distribution date of April 17, 2020, May 18, 20, and June 18, 2020 respectively.
Reaves Utility Income Fund (the Fund) is a diversified, closed-end management investment company. The Fund's investment objective is to provide a high level of after-tax income and total return consisting primarily of tax-advantaged dividend income and capital appreciation. Under normal market conditions, the Fund invests at least 80% of its total assets in dividend-paying common and preferred stocks of companies in the utility industry. The Fund pursues its investment objective by investing at least 80% of its total assets in the securities of domestic and foreign companies involved to a significant extent in providing products, services or equipment for the generation or distribution of electricity, gas or water; telecommunications activities, and infrastructure operations, such as airports, toll roads and municipal services. The Fund may invest in preferred stocks and bonds of below investment grade quality (junk bonds). The Fund's investment adviser is W.H. Reaves & Co. Inc.
REAVES UTILITY INCOME FUND 